Engl Technology

Globalization

Workshop No. 5

Facilitator: Sandra Martinez

Name: Gadiel Melendez

Sistema universitario Ana G. Mendez

Report Outline.

I. Introduction.

1. What is Globalization?

II. History.

1. Beginnings of Globalization.

III. Effects of Globalization.

1. General effects of Globalization.

2. Negative effects of Globalization.

3. Positive effects of Globalization.

4. Globalization effects on the American economy.

IV. Pros and Cons of Globalization in the U.S.

1. The Advantages of a Globalized Economy for the U.S.

2. The Downsides of the Global Economic System on the U.S.

V. Conclusions.

According to Ali, A.J. in 2000, “Globalization is a process that is built on collective understanding of the need to establish a world community that is prosperous and tolerant, and on respect for and equitable treatment of people across the globe… As a concept, globalization is defined as a set of beliefs that foster a sense of connectivity, interdependence, and integration in the world community.”

Globalization is all about integration, combination and incorporation of economies around the world but, it is also the exchange of ideas, culture, and technology. The effects of this phenomenon have reached every country in the globe, the greatest economies as well as the poorest. As every new movement of this magnitude, it has been positive for some economies, negative for others and a combination of both elements for some. After been around for a while, globalization became really important as an economic philosophy in 1947 with the General Agreement on Tariffs and Trade (GATT), later known as World Trade Organization (WTO). (Nash C., 2008)

In the last ten years since the Second World War, many governments have adopted free market economic systems. Globalization is a current wave that has been driven by policies that have opened economies domestically and internationally. Governments also have negotiated dramatic reductions...